Marico's Priyanjali Mariwala buys luxury apartment in Bandra Kurla Complex in Mumbai for more than 65 crore

Priyanjali Mariwala, who leads the ASCENT Foundation, a not-for-profit firm of Harsh Mariwala, chairman of Marico, has bought the flat in Mumbai

Priyanjali Mariwala, who leads the ASCENT Foundation, a not-for-profit organization of Harsh Mariwala, chairman of Marico, has bought an apartment for ₹65.25 crore in Sunteck Signature Island, Bandra Kurla Complex, in Mumbai, documents accessed by Zapkey showed.

Priyanjali Mariwala has bought an apartment for ₹65.25 crore in Sunteck Signature Island, (Representational photo) (Unsplash)

The seller is Starlight Systems (I) Pvt Ltd. The carpet area of the housing unit is 8292 sq ft and comes with four car parking spaces, the documents showed.

The document was registered on July 1, 2024.

Priyanjali, wife of Rishabh Mariwala, leads the ASCENT Foundation, a not-for-profit organization of Harsh Mariwala (chairman, Marico). They identify high-potential, growth-ready entrepreneurs and enable them to grow their enterprises thereby impacting their entrepreneurial journey in scaling up.

Apartments in the Signature Island complex come in two sizes, the bigger ones are 11,000 sq ft while the smaller ones are about 7,000 sq ft, ultra luxury residential complex comprises uber luxury residences and the ownership is by invitation only.

Mariwala paid a stamp duty of ₹3.2 crore. A query has been sent to both Mariwala and Sunteck Group, the real estate developer of the project.

According to the company’s website, these apartments are inspired by Manhattan, Singapore and Hong Kong. Several business tycoons and Bollywood stars have units in this project which is located a stone’s throw away from the central business district Bandra Kurla Complex (BKC).

Actress Sonam Kapoor who had bought a duplex apartment in Sunteck Signature Island in 2015 sold it for over ₹30 crore in December 2022. Bollywood actress Aishwarya Rai Bachchan had also bought a luxury apartment spread over 5,500 sq ft for ₹21 crore in this complex, local brokers said.

The Metropolitan Region Development Authority (MMRDA) had come up with the idea of BKC in the 1970s to decongest the existing office hubs like CBD in the city. Initially, oil companies, consulates and banks occupied this district.

In 2010, the Bharat Diamond Bourse (BDB), the world’s largest diamond bourse, started operations to facilitate diamond traders in India. This attracted many other related companies to BKC to start operations in this area. BKC houses large banks, insurance companies and other government institutions.